The mastermind behind Luna and Terra—two cryptocurrencies that wiped out roughly $40 billion in value during the 2022 market collapse—has been handed down a 15-year prison sentence. A judge characterized the case as an 'epic fraud,' marking a watershed moment for accountability in digital asset markets. Do Kwon, a South Korean entrepreneur, faced justice for orchestrating one of crypto's most catastrophic failures. The verdict underscores growing regulatory scrutiny and the real legal consequences awaiting those who exploit investor trust. This landmark sentencing serves as a stark reminder of how quickly fortunes can vanish in the crypto space, and why due diligence matters more than hype.
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The mastermind behind Luna and Terra—two cryptocurrencies that wiped out roughly $40 billion in value during the 2022 market collapse—has been handed down a 15-year prison sentence. A judge characterized the case as an 'epic fraud,' marking a watershed moment for accountability in digital asset markets. Do Kwon, a South Korean entrepreneur, faced justice for orchestrating one of crypto's most catastrophic failures. The verdict underscores growing regulatory scrutiny and the real legal consequences awaiting those who exploit investor trust. This landmark sentencing serves as a stark reminder of how quickly fortunes can vanish in the crypto space, and why due diligence matters more than hype.